posted 19 August 2005 03:40 PM
There used to be a guy doing a Vancouver Sun column in the business section called David Baines, I believe--he would have gone after this. He was always doing exposes on the bad actors. No analysis of the system, obviously, but he raked up the scams pretty good. Whatever happened to him?(Presumably Canwest Global happened to him, but it'd be interesting to know for sure)
From: Caithnard College | Registered: Nov 2002
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quote:...After graduating from McGill and Queen's University, Radler signed on with Black and White to run the Sherbrooke Record when the trio bought the newspaper in 1969 for just $20,000.

And while the rationing of pencils and rolls of toilet paper at the Sherbrooke newspaper are the stuff of Canadian journalism legend, Radler was more than a bean counter helping lead a turnaround that cut the paper's payroll in half and found a cheap press to print the paper in Vermont. ...

posted 19 August 2005 11:11 PM
To give credit where credit is due it would seem that the USian judicial system pursues corporate crime much more vigorously than the Canadian judicial system.

Enron stuck it to Alberta power customers big time but no action was taken against them. Of course "the Eagle"...and then there's Micro$oft...which was pursued in USian and EU courts over monopolistic practices but never in Canada.

quote:... Mr. Radler could be sentenced to 35 years in prison; each of the counts against the men carries a maximum term of five years in prison, as well as a fine of $500,000 per count beyond the return of any ill-gotten gains.

The $32 million at issue is smaller than some of the other sums sought in other cases involving Hollinger. Lord Black, Mr. Radler and Ravelston are already named in a civil lawsuit, filed by the Securities and Exchange Commission last November, claiming that from 1999 to 2003 they had taken $85 million from the company through "self-dealing" transactions.

And Hollinger International's directors - most of whom were put in place by Lord Black - has sued the defendants and several others, including Lord Black's wife, Barbara Amiel, a former director and executive of Hollinger International, accusing them of taking more than $300 million over several years...

quote:Originally posted by radiorahim:[QB]To give credit where credit is due it would seem that the USian judicial system pursues corporate crime much more vigorously than the Canadian judicial system.

Don't you think this is a very recent phenomenon?

Also the NYT article linked speaks of a tax angle. So I also have the question of why Revenue Canada is not investigating.

posted 23 August 2005 07:13 PM
Without commenting on what Mr Radler or Lord Black may or may not have done, I have to say that I have not been impressed by the American justice system, which seems to be highly politicised. American indictments do not seem to be worth much, and are said to be at the beck and call of any particular prosecutor, in my understanding.
From: Victoria | Registered: Jul 2005
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jeff house
rabble-rouser
Babbler # 518

posted 23 August 2005 07:23 PM
I have been very unimpressed with the Canadian enforcement effort dealing with business crime.

The various securities commissions rarely get off their butts. And it is utterly rare to see an actual businessman in criminal court. Yet fraudulent misrepresentation is a daily occurrence.

Sufficient money is not invested in fraud investigation. Rather, the police prefer to limit themselves to the investigation of traditional, violent offences and small-scale thefts.

I don't think the US is great, either, with the exception of New York and Illinois, which have very tough prosecutorial teams, and which actually interest themselves in making sure that the stock exchange is something more than "scam city".

It is true that indictments can be gotten relatively easily, but if I were a betting man, I would be willing to bet that Lord Black will spent time in a cell before this is over. Maybe Lady Black will too.